S&P 500 e-mini futures slid 0.2% and Nasdaq e-mini futures fell 0.4%. Stocks sold off overnight on fears that new AI models may start to eat into the profits of software firms, with the S&P 500 turning negative for the year as fears around the labour market grew. The S&P 500 software and services index dropped 4.6%, having shed about $1 trillion in market value since January 28, in a selloff dubbed "software-mageddon." The U.S. dollar index, which measures the greenback's strength against a basket of six currencies, was recently flat at 97.92. The yen rallied 0.3% to 156.58 against the dollar and Japanese government bonds attracted buyers across the curve ahead of Sunday's election.

Source: The Star February 06, 2026 09:25 UTC